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Condensed Financial Statements of Kentucky First Federal Bancorp

12 Months Ended

Jun. 30, 2025

Condensed Financial Statements of Kentucky First Federal Bancorp [Abstract]

CONDENSED FINANCIAL STATEMENTS OF KENTUCKY FIRST FEDERAL BANCORP

NOTE L - CONDENSED FINANCIAL STATEMENTS OF KENTUCKY FIRST FEDERAL BANCORP

The following condensed financial statements summarize the financial position of Kentucky First Federal Bancorp as of June 30, 2025 and 2024, and the results of its operations and its cash flows for the fiscal years ended June 30, 2025 and 2024.

(in thousands)		2025				2024
ASSETS
Interest-bearing deposits in First Federal of Hazard		$	503			$	50
Interest-bearing deposits in First Federal of Kentucky			11				319
Investment in First Federal of Hazard			17,860				18,042
Investment in Frankfort First			29,376				28,960
Prepaid expenses and other assets			570				655
Total assets		$	48,320			$	48,026

LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable and other liabilities		$	-			$	29
			-				29
Shareholders’ equity			48,320				47,997
Total liabilities and shareholders’ equity		$	48,320			$	48,026

(in thousands)		2025				2024
Income
Interest income		$	2			$	3
Dividends from First Federal of Hazard			453				-
Equity in undistributed (excess distributed) earnings of First Federal of Hazard			(273	)			(29	)
Dividends from Frankfort First			-				-
Equity in undistributed (excess distributed) earnings of Frankfort First			316				(1,291	)
Total income			498				(1,317	)
Non-interest expenses			462				510
Earnings (loss) before income taxes			36				(1,827	)
Income tax expense (benefit)			(96	)			(106	)
Net income (loss)			132				(1,721	)
Other comprehensive (loss) income, net of tax-related effects:
Unrealized holding losses on securities designated as available-for-sale during the year, net of taxes of $63 and $30 in 2025 and 2024, respectively			191				91
			323			$	(1,630	)

(in thousands)		2025				2024
Cash flows from operating activities:
Net income (loss) for the year		$	132			$	(1,721	)
Adjustments to reconcile net earnings to net cash provided by operating activities:
Excess (deficit) distributions over earnings (undistributed earnings from consolidated subsidiaries			(43	)			1,320
Increase (decrease) in cash due to changes in:
Prepaid expenses and other assets			85				333
Other liabilities			(29	)			(23	)
Net cash provided (used) by operating activities			145				(91	)

Cash flows from financing activities:
Dividends paid on common stock			-				(670	)
Net cash used in financing activities			-				(670	)
Net increase (decrease) in cash and cash equivalents			145				(761	)
Cash and cash equivalents at beginning of year			369				1,130
Cash and cash equivalents at end of year		$	514			$	369